Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Tenere Capital LLC

Tenere Capital LLC trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,719 shares of the company’s stock after selling 26,045 shares during the quarter. Datadog makes up approximately 3.7% of Tenere Capital LLC’s investment portfolio, making the stock its 14th largest position. Tenere Capital LLC’s holdings in Datadog were worth $13,820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new stake in Datadog during the 4th quarter valued at about $14,884,000. ARK Investment Management LLC increased its stake in shares of Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after acquiring an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after purchasing an additional 30,998 shares during the period. Baillie Gifford & Co. increased its position in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock valued at $10,358,000 after purchasing an additional 2,451 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In related news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the transaction, the director now directly owns 82,324 shares of the company’s stock, valued at $9,538,058.64. This represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,756 shares of company stock worth $58,732,500 in the last three months. Insiders own 11.78% of the company’s stock.

Datadog Trading Up 2.8 %

Shares of DDOG opened at $91.42 on Wednesday. The firm has a market cap of $31.34 billion, a PE ratio of 179.26, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. The company’s 50 day simple moving average is $104.68 and its 200-day simple moving average is $127.86. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. DA Davidson decreased their price objective on Datadog from $165.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price target (down from $150.00) on shares of Datadog in a research note on Monday, April 7th. UBS Group dropped their target price on shares of Datadog from $164.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.33.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.